“House of Cards” producer Dana Brunetti would short Netflix, despite doing business with the company.
The respected producer behind the big Netflix hit has said that Netflix’s home turf is “really going to get crowded.”
Netflix shares have dropped more than 20 percent over the past year and trades at nearly 300 times price-to-earnings ratio.
Plus it’s no good that huge rival Amazon has made promises to double its video content spend.
Brunetti has also said that though there is “some room to make some money … [Netflix] is getting a bit overvalued. And I’m also talking about people that I work with, so I got to be careful.”
Disclaimer: We have no position in Netflix Inc. (NASDAQ: NFLX) nor Amazon.com Inc. (NASDAQ: AMZN) and have not been compensated for this article.